The Transformation of the International economic law order in the contemporary conditions

Abstract

The author expounds his views on the situation in the contemporary international economic system and international economic law order. It’s seen two parts of the order – normative and organizational. Special attention is done to the legal orders in international trade system, international finance system and in the international investment system. As additional instrument in normative regulation it’s exposed the role of the non-legal norms and of the methods of legal regulation, including methods of the supranational and transnational regulation. The author uses system analysis, contemporary law and civilization approaches. In the process of research, the author comes to the conclusion that the international economic order is in the process of imperceptible, but radical transformation, which is governed by the states of the Western civilizational type led by the United States. At the same time, international law is
one of the main instruments for promoting and legalizing the national interests of Western countries, a
means of foreign economic policy. In addition, the United States, being unable to provide the necessary
international economic regime for the economic expansion within the WTO, has begun to create alternative
regimes at different levels – without the participation of Russia and other BRICS countries. Thus,
a line has been taken to seize the world economic space and isolate a number of non-Western states.
The creation of «subglobal» free trade zones dilutes the content of WTO law. Subglobal US projects lead
to a change in the social functions of modern states, ensure the priority of legal entities, TNC / TNB in
economic legal relationships involving states. The entire international economic system is placed under
US control.
Key words: international economic law order, international economic system, international investment
system, global normative system, global law, supranational law, transnational law, international
economic law